Suppose the demand for wheat, in millions of bushels, can be expressed as Q = 100 - 10P and the supply can be expressed as Q = 10P. If government sets a production price floor guaranteeing farmers a price of $5.50 but does not impose production quotas, how much taxpayer funds must be use to purchase surplus production of wheat the higher price encourages?

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No taxpayer funds are used. The surplus will cause the price to fall, increasing quantity demanded until the market clears.
$50 million
$45 million
$55 million